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Bank restructuring – what should farmers do if they are not happy with their new relationship
More banks are restructuring their businesses to cut costs. As a result many farms are losing their bank manager or being moved to telephone banking staff with no understanding of farming. We give our tips for those who aren't happy with these changes.
Loyalty to your lender could be an expensive mistake
90% of small businesses get their loans from their main bank, with no shopping around for other lenders. Have you ever compared your bank's rates, terms and conditions against other lenders? You could end up saving money or being in a more flexible position.
Reviewing farm borrowings could alleviate cashflow pressures or create flexibility in the business
Three years of downward pressure on commodity prices is paying its toll on many producers. A regular review of farm finances and their costs is always important and even more so in times when cashflow is under pressure.
Why use a mortgage specialist and what to look for when choosing one?
It takes time to find the right lender and then to negotiate a suitable deal. You can go direct to banks, but the support of an expert can lead to better outcomes. What should you look for when choosing mortgage advice for your farm or rural business?
Why farm consultants are an investment in your farm’s future
Investment in the services of consultants with specific skills appropriate for the job should be regarded as an investment in future farm profitability. We whos you how farm businesses can benefit from the support of professional advisers.
5 tips to manage your banking position during downward agricultural commodity price pressures
With downward pressure on commodity prices and a 12% reduction in the 2014 Single Farm Payment, cashflow and working capital requirements could become stretched. What can be done to prepare for tougher times?